ATLANTA, Jan. 25, 2021 /PRNewswire/ -- Cox Automotive today announced the launch of Complete Retail, a revolutionary end-to-end digital retail experience that allows consumers and retailers to complete the shopping and buying processes from anywhere. Cox Automotive is uniquely positioned to bring every step of the car-buying journey and every part of the deal process together - start, flow, sign and close. More than an iterative step, Cox Automotive Complete Retail is a transformational leap that unlocks a new era of car selling and buying.
Cox Automotive Complete Retail is underpinned by and serviced through a suite of the auto industry's most recognized, trusted, and connected solutions: Autotrader, Dealer.com, Kelley Blue Book, VinSolutions, and Dealertrack. Because it gathers consumer data and activity from the two largest automotive marketplaces, Autotrader and Kelley Blue Book, and from multiple dealer websites (Dealer.com operates 60 percent all dealership websites in the U.S.), the Cox Automotive Complete Retail portfolio is positioned to possibly initiate nearly 3 out of 4 car purchases1, supporting more than 100 million unique website visitors2, and generating over 72 million monthly emails to car shoppers3. By sharing data across advertising, website, CRM and F&I solutions and applying precise, location-based variables such as incentives and applicable taxes, Complete Retail simplifies and offers greater flexibility to each stage of a car deal, creating an omni-channel retail experience for customers.
"For years, retailers and consumers have asked for the freedom to start and complete the car buying experience from anywhere, without having to backtrack, start over or re-enter data at any point in the journey - now they have that freedom," said Lori Wittman, senior vice president, dealer software solutions, at Cox Automotive. "Complete Retail isn't just software, it's progress toward the future that only Cox Automotive could bring together in one place."
Expansive and scalable, Complete Retail is the first end-to-end retail experience to bear the Cox Automotive name. With Complete Retail, retailers can now engage more buyers and complete more deals for potential higher gross profits in less time, by simplifying management and processes throughout.
Shoppers are six times more likely to submit leads.4
Leads convert at 30 percent higher close rate.5
Sales close with 26 percent higher gross profits per deal.5
"It is significant that Complete Retail carries the Cox Automotive brand because it provides all our clients – consumers, retailers, lenders, and OEMs - with flexible tools and a customized approach to shopping, sales and operations," added Wittman.
By connecting the retail experience from the start of a deal, to working the deal, to signing and closing the deal, consumers and retailers finally have a suite of tools that can personalize offers, predict readiness to buy, and complete the transaction without having to restart, re-enter data, or retrace steps.
About Cox Automotive Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®,are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion. www.coxautoinc.com
1 According to Cox Automotive's 2020 Car Buyer Journey 2 Dealer.com Global Data 2020 3 VinSolutions Connect CRM Global Usage Data 2020 4 Comparison of visits with vs. without digital retailing activities, Dealer.com hosted websites (June 2020 – Dec 31, 2020) 5 Automotive Product Analytics. Cox Automotive Digital Retailing Lead to Close Analysis using VinSolutions sales data. Data from 2020-Nov 2020. Analysis performed January 2021